Candente Gold Announces the Appointment of Mr. Ian Ward as Independent Director
Mr. Ward is a professional engineer (Ontario) and metallurgist with extensive experience in the processing of gold and base metal ores and industrial minerals. He has executive/senior management experience, practical plant operating experience, extensive engineering experience and has for the past 19 years been intimately involved in a variety of feasibility studies, audits, operations support and project evaluations. After operational positions, Ian spent 16 years with Kilborn Ltd. (now SNC-Lavalin), then 12 years as President of Micon International followed by 5 years with Kinross Gold Corp. mostly as VP and Chief Metallurgist.
Mr. Ward's specific areas of technical expertise include: Gold extraction, SAG milling, heap leaching, base metal flotation, environmental studies, feasibility studies and plant evaluations. He has extensive experience in Canada/USA and overseas through many assignments in South America, Mexico, Russia, Spain, West Africa and Saudi Arabia.
The Company also announces the resignation of Mr. Andres Milla from his position as Independent Director as of February 3, 2017, for personal reasons. Mr. Milla has been a dedicated member of the Board of Directors since the Company went public in 2010 and we sincerely thank him for his valuable service and support.
Candente Gold completes acquisition of 100% interest in the El Oro Project
Pursuant to the Purchase and Sale Agreement (the "Agreement") entered into on January 25th, 2017 with Desarrollos Mineros San Luis, S.A. de C.V. ("DMSL"), a subsidiary of Goldcorp Inc. ("Goldcorp") (News Release 61 dated January 26th, 2017) Candente Gold has issued 1,000,000 common shares to Goldcorp and now holds 100% interest in the El Oro Project.
About Candente Gold
Candente Gold's flagship asset is El Oro, a district scale gold project encompassing the largest and most prolific high grade gold dominant silver epithermal vein system in Mexico. Modern understanding of epithermal vein systems indicates that several of the El Oro district's veins hold multi-million ounce discovery potential, particularly below and adjacent to historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres.
In addition to exploration potential at El Oro, Candente Gold has acquired the Mexican Mine Tailings Deposit. The Company's current corporate strategy is to process the tailings to generate short-term cash flow and then focus on remnant high grade mineralization left behind by historic mining and, in the future, return to exploration concentrating on 31 recently-delineated targets for new mineralized veins or zones.
This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to the mineral resource estimate for the Mexico Mine Tailings, the potential for discovery in the El Oro district and other statements that are not historical facts. While such forward-looking information is expressed by Candente Gold in good faith and believed by Candente Gold to have a reasonable basis, they address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Candente Gold's MD&A. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Candente Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
On behalf of the Board of Candente Gold Corp.
"Joanne Freeze" P.Geo.
President & CEO
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